Dycom Industries, Inc. Announces Stock Repurchase Program

PALM BEACH GARDENS, Fla., May 20 /PRNewswire-FirstCall/ -- Dycom
Industries, Inc. (NYSE: DY) announced today that its Board of Directors has
authorized the repurchase of up to $15 million of its common stock. The stock
repurchases are authorized to be made over the next eighteen (18) months in
open market or private transactions. This buyback program is in addition to
the previously announced repurchase program of $15 million, under which Dycom
has purchased 1,016,200 shares for approximately $14.1 million.
Dycom is a leading provider of specialty contracting services throughout
the United States. These services include engineering, construction,
maintenance and installation services to telecommunications providers,
underground facility locating services to various utilities including
telecommunications providers, and other construction and maintenance services
to electric utilities and others.
This press release contains forward-looking statements as contemplated by
the 1995 Private Securities Litigation Reform Act. These statements are based
on management's current expectations, estimates and projections. Forward-
looking statements are subject to risks and uncertainties that may cause
actual results in the future to differ materially from the results projected
or implied in any forward-looking statements contained in this press release.
Such risks and uncertainties include: business and economic conditions in the
telecommunications industry affecting our customers, the adequacy of our
insurance and other reserves and allowances for doubtful accounts, whether the
carrying value of our assets may be impaired, whether acquisitions can be
efficiently integrated into our existing operations, the impact of any future
acquisitions, the anticipated outcome of other contingent events, including
litigation, liquidity needs and the availability of financing, as well as
other risks detailed in our filings with the Securities and Exchange
Commission. The Company does not undertake to update forward-looking
statements.
SOURCE Dycom Industries, Inc.

Steven E. Nielsen, President and CEO, or H. Andrew DeFerrari, Senior Vice
President and CFO, +1-561-627-7171, both of Dycom Industries, Inc.